Vistra Corp.
For the period ended Mar 31, 2026. Filed May 8, 2026.
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Mar 31, 2026 · Filed May 8, 2026
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. Government Grants
- GOVERNMENT GRANTS
Inflation Reduction Act of 2022 (IRA)
In August 2022, the U.S. enacted the IRA, which introduced various energy tax credits. Among these, it acknowledged the importance of existing carbon-free nuclear power by establishing a nuclear Production Tax Credit under section 45U (nuclear PTC), a solar PTC, new technology-neutral ITCs and PTCs that apply to various different clean energy technologies, and a new stand-alone battery storage investment tax credit. The nuclear PTC is available to existing nuclear facilities from 2024 through 2032 and provides a federal tax credit of up to $15 per MWh, subject to an annually inflated gross-receipts based phase out. The Company accounts for transferable ITCs and PTCs we expect to receive in accordance with ASC 832, Government Grants as amended by ASU No. 2025-10, Government Grants (Topic 832): Accounting for Government Grants Received by Business Entities.
Transferable ITCs
In March 2026, our Newton 52 MW solar /2 MW battery ESS facility in Illinois met the requirements to be placed in service. As a result, in the three months ended March 31, 2026, we recognized $46 million of transferable ITCs associated with the project in other noncurrent assets in the consolidated balance sheet.
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